Sime Darby Aims to List Motor Business in First-Quarter of 2015

Malaysia's Sime Darby Bhd., the world's largest listed palm-oil producer, has appointed banks, including Maybank Investment Bank Bhd and Deutsche Bank, for its up-to-$700 million initial public offering of its automotive business, people familiar with the matter said Tuesday.

The state-controlled conglomerate, which sells and assembles vehicles for car brands ranging from BMW to Hyundai, has also appointed CIMB Investment Bank Bhd and Morgan Stanley to manage the IPO, three people familiar with the matter told The Wall...